This follows 54 tonnes of gold ETF purchases in January. Even as gold prices fell on Friday, the metal headed for its biggest weekly jump sincereports Bloomberg. Tahoe Resources announced its definitive agreement this week to acquire Lake Shore Gold.
It is the most crucial financial intermediary as it connects surplus and deficit economic agents.
Moreover, with the advent of technological revolution, the banking today is redefined and Re- engineered to provide more sophisticated, innovative and cost-effective products to their customers such as ATMs, tele-banking, Mobile banking, Internet Banking, Core Banking Solutions, Electronic Fund transfers etc.
E-banking is an extension of conventional banking systemwhich uses an electronic delivery channel for exchange of banking products and services. With continuous product and process developments evolving rapidly, more products and services may soon become the order of the day.
With the adoption of financial sector reforms as suggested by Narasimham Committee, the banking sector has undergone major overhaul and several initiatives have been taken by the Reserve bank of India, the private players and the government to develop e-banking in India.
Further, The Government of India enacted the Information Technology Act, to provide legal recognition to transactions occurring over electronic media and other forms of E-commerce. Following these efforts towards liberalisation, many foreign banks were Swot analysis of banks to India, thereby opening up new markets and innovative products.
This paper aims to analyse the current scenario of Internet banking in India and the major risk areas and challenges faced by banking sector with the usage of Information technology. Swot analysis of banks also tries to emphasise on the strengths and weaknesses of the Internet banking and the future plans that could be adopted to overcome the weaknesses.
Before the adoption of liberalisation, privatisation and globalisation policies by Indian government in 99 s, the banking sector sickened with lack of competition, low capital base, low productivity and high intermediation cost. There was minimal role of technology and poor quality of service.
The thirst ofthe 99 s reforms was to create an efficient, stable and competitive financial sector by removal of structural bottlenecks, relaxation of restrictions to improve trade, more transparency, creating liquidity and efficient price discovery process, technological upgradation,etc.
Thus, Indian banking sector was exposed to the world market after financial sector reforms in Indian banking industry has witnessed tremendous developments due to sweeping changes that are taking place in the information technology.
According to an Industry report, it has the potential to become the 5th largest banking industry in the world by The last few decades have changed the face on banking industry.
Then there was arrival ofnetwork based operations hi h led to i ter a k o e ti ity. Furthermore, deployment of ATMs and the adoption of Core Banking Solutions brought about user friendly technology for customerswhich radically transformed the way banking was done in India both by bankers and customers.
The overwhelming innovations in the form of new delivery channels like internet banking, payments and settlement systems such as RTGS, NEFT, pre-paid cards issued by non-banking entities,mobile banking started gaining worldwide-wide popularity.
India also became a member of the Basel Committee of Payment Settlement systems. Electronic Banking defined… E-banking can be defined as the automated and effective delivery of new and conventional banking products and services directly to customers through electronic, interactive communication channels.
It includes the systems that enable financial institutions, individual customers or businesses, to access accounts, transact business, or obtain information on financial products and services through a public or private network, including the Internet.
It encompasses the wide technological innovations that have taken place in banking from transferring funds online, making online payments for almost any service, managing account balances to making railway, airway and hotel bookings online. It has re o ed the arriers of Bri k a d ortar odel of a ki g.
They have also identified certain challenges being faced in the implementation of IT solutions in various spheres of banking. Their study shows that As at end-March49 banks with a customer base of 13 million provided mobile banking service in India.
Also noted that during the year However, having discussed the blessings of Internet banking we also need to note the threats and challenges faced by E-banking. Such as, the potential for frauds, money laundering and system failure needs to be ruled out which requires huge investments by government.
The authors have tried to address the technological concerns in banking. Their paper begins with the analysis of various reports on trends and progress of banking in India published by RBI mainly on parameters such as ATMs, Computerisation of branches and Retail electronic payment methods.
Additionally, they noted Indian banks in spite of making sincere efforts in installation of electronic delivery channels and technology into the system, still need to make the masses in the systemfully aware of the concept.
More and more seminars and workshops on the usage of e-banking especially for those who are ATM or computer illiterate should be organised. Bank employees should be given adequate training in the field of e- banking to enhance efficiency and effectiveness of the model.
It entails a detailed summary of Indian banking structure based on secondary data collected from journals, books, periodicals etc. The global level competition has compelled the banks to rethink their policies and strategies and timely upgrade technology to meet demands.
It also talks about building knowledge-driven, learning organizations in this rapidly evolving operational environment. This paper focuses on investigating the factors affecting customers per eptio of service quality of banks in India.
It has first divided the data into three groups of banks and made comparisonson the basis of service quality factors from customers per eptio.
The results show a great amount of variation in the level of service quality offered by the three groups of banks. It has identified the factors that discriminate the three groups of banks.
Customers in developing economies seem to keep the te h ologi al fa tors of services such as core service and systematization of the service delivery as the yardstick in differentiating good and bad service while the hu a fa tors seem to play a lesser role in discriminating the three groups of banks.Suntrust Swot Analysis SunTrust Banks, Inc.
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Abstract. Urban Cooperative Banks (UCBs) are among the major players in India’s financial and economic system: Rs thousand crores of deposits, Rs thousand crores of credit, banks and a 10% share of the deposits market in India as on 31st March Sun trust bank SWOT Analysis Strengths • The company has very strong and rich history and the factors of heritage in the markets.
• The company is establishing more and more paths for the attainment of the loans and the various sorts of deposits. SWOT analysis of Bank of America – Bank of America SWOT February 9, By Hitesh Bhasin Tagged With: SWOT articles Bank of America is an American company involved in the business of financial services and multinational banking.